Mitek Systems Correlations

MITK Stock

USD 10.55 0.01 0.09%

The current 90-days correlation between Mitek Systems and eGain is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Mitek Systems moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mitek Systems moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Mitek Systems Correlation With Market

Weak diversification

The correlation between Mitek Systems and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mitek Systems and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Mitek Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mitek Systems. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

For more information on how to buy Mitek Stock please use our How to buy in Mitek Stock guide.

Moving together with Mitek Stock

0.67	CRM	Salesforce	Pair Corr
0.83	ASUR	Asure Software Tech Boost	Pair Corr
0.73	USDC	USDATA Corp	Pair Corr
0.61	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.7	DIS	Walt Disney	Pair Corr

Moving against Mitek Stock

0.62	DDOG	Datadog	Pair Corr
0.35	UPLD	Upland Software	Pair Corr
0.32	PIFMY	Indofood Sukses Makmur Upward Rally	Pair Corr

Related Correlations Analysis

	EGAN	PUBM	MTLS	LAW	RMNI	CMRC	IMXI	GRRR	CRNC	OSPN
EGAN		-0.34	0.5	-0.49	0.15	0.42	-0.11	0.3	-0.23	0.23	EGAN
PUBM	-0.34		-0.16	0.52	-0.35	-0.03	0.45	-0.44	-0.18	-0.32	PUBM
MTLS	0.5	-0.16		-0.54	-0.01	0.36	-0.21	0.38	-0.12	0.0	MTLS
LAW	-0.49	0.52	-0.54		-0.38	-0.48	0.71	-0.66	0.08	-0.42	LAW
RMNI	0.15	-0.35	-0.01	-0.38		0.47	-0.76	0.84	0.65	0.94	RMNI
CMRC	0.42	-0.03	0.36	-0.48	0.47		-0.54	0.59	0.03	0.44	CMRC
IMXI	-0.11	0.45	-0.21	0.71	-0.76	-0.54		-0.83	-0.31	-0.73	IMXI
GRRR	0.3	-0.44	0.38	-0.66	0.84	0.59	-0.83		0.51	0.79	GRRR
CRNC	-0.23	-0.18	-0.12	0.08	0.65	0.03	-0.31	0.51		0.55	CRNC
OSPN	0.23	-0.32	0.0	-0.42	0.94	0.44	-0.73	0.79	0.55		OSPN
	EGAN	PUBM	MTLS	LAW	RMNI	CMRC	IMXI	GRRR	CRNC	OSPN

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

OSPN	+ 0.94	RMNI
GRRR	+ 0.84	RMNI
OSPN	+ 0.79	GRRR
IMXI	+ 0.71	LAW
CRNC	+ 0.65	RMNI
GRRR	+ 0.59	CMRC

High negative correlations

GRRR	- 0.83	IMXI
IMXI	- 0.76	RMNI
OSPN	- 0.73	IMXI
GRRR	- 0.66	LAW
IMXI	- 0.54	CMRC
LAW	- 0.54	MTLS

Risk-Adjusted Indicators

There is a big difference between Mitek Stock performing well and Mitek Systems Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Mitek Systems' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EGAN	3.82	0.18	0.05	0.10	5.58	(4.17)	7.21	(6.63)	48.12
PUBM	2.86	0.06	0.04	0.07	3.77	(3.10)	3.70	(6.23)	56.16
MTLS	2.45	(0.01)	0.00	0.04	2.54	(3.04)	5.02	(4.04)	18.56
LAW	2.60	0.32	0.11	0.42	2.50	(2.94)	7.67	(4.27)	19.49
RMNI	1.70	(0.38)	0.00	(0.18)	0.00	0.00	2.53	(4.63)	17.73
CMRC	2.09	(0.40)	0.00	(0.12)	0.00	0.00	3.80	(4.33)	16.77
IMXI	0.43	0.11	0.13	0.58	0.29	(0.55)	1.15	(0.99)	6.96
GRRR	3.30	(0.88)	0.00	(0.43)	0.00	0.00	6.15	(7.66)	21.87
CRNC	3.83	(0.16)	0.00	(0.02)	0.00	0.00	6.94	(6.89)	33.00
OSPN	1.95	(0.29)	0.00	(0.20)	0.00	0.00	3.20	(4.30)	30.02

Mitek Systems Corporate Management

Jason JD	Chief Officer	Profile
Scott Marcus	G Counsel	Profile
David Lyle	Chief Officer	Profile
Michael Diamond	Chief Revenue Officer	Profile
Stephen Ritter	Chief Officer	Profile

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